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Power Player: Addepar's Eric Poirier drags RIAs to seek alpha in a beta world even as the advisors demand -- and get -- eMoney and FolioDynamix connections

The Silicon Valley-based CEO seeks to change how RIAs invest by what they can track with a new API and a fresh $140 million of VC money to see it out

Authors Brooke Southall and Mia Diamond
September 26, 2017 at 7:31 PM
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Eric Poirier: We are still in the very early days in terms of penetration in the RIA industry.

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Mentioned in this article:

eMoney Advisor LLC
Financial Planning Software
Top Executive: Edward O’Brien

Top Executive: Nick Eatock

Portfolio Management System
Top Executive: Eric Poirier

Brian Murphy

Brian Murphy

September 26, 2017 — 10:44 PM
Let me guess - the spellchecker converted "Addepar" to "Depart"? Do a search on "Depart" in the document and replace w/ "Addepar"...then the article becomes more readable.
Peter Giza

Peter Giza

September 27, 2017 — 2:21 AM
Brooke, It will be interesting to see how far AltX gets in its quest for the grail, one that DTCC AIP has been chasing for a decade with varied success. Picking through the ore in search of gold is great if you can get the ore to begin with. It's amazing how little nexus there is the data available from private investment managers and advisors list of managers - on average under 35%. The problem is getting them to sign up and send the data electronically. Then there are the brute force methods used by Fortigent, PCR, et. al. The problem has been solved by other platforms such as Orion and WealthSite but requires the typical manual management of the data is only available via paper, pdf or portal. The great thing is Excel is replaced with a purpose built database centric application engine that knows how to handle the various transactions such as capital calls, commits, redistribution, etc. And bonus of bonus - total net worth on a single page. As to Eric, he knows there will always need to be partnerships to get to the goal directly ahead and he is making use of them. After all he has to with a $2B nut to crack. This is the stuff fintech dreams are made of ;) Pete
Jeff Spears

Jeff Spears

September 27, 2017 — 11:41 AM
I question the addressable market for Addepar. How many RIAs truly use alts in their client portfolios. My estimate is less than 300.
Peter Giza

Peter Giza

September 27, 2017 — 12:59 PM
Our dearly departed 'Depart'ed how I miss thee... :D If Addepar's only addressable market were RIAs, constraining them to the US, then I'd say they had much bigger issues with their business plan. To be sure those requiring alts management capabilities is small in comparison to the general audience, however Addepar's dream is to change the face of wealth management globally.
brooke southall

brooke southall

September 27, 2017 — 6:01 PM
My apologies for the 'departed' insertion (Brian and everyone) everywhere that it was supposed to say 'Addepar'. We assume it was our own spellcheck working against us and not a cyber-prank. The last two comments here from Jeff Spears and Peter Giza lay out the challenge and response of Addepar. Expect me to keep a close eye on the efforts of this company because its stretch ambition could be so consequential. And if it just keeps doing what it's doing, it will still find many takers of a certain business model that keeps it on our radar for the foreseeable future.

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